Renting
Renting9th Grade BusinessApplicationApplication form a document
used to determine persons credit history, financial stability, and
references
RentPayment made to the owner/landlord for living on the
propertyTenant- the one that rents the propertyLandlord- the owner
of the propertyProperty manager- employee of the owner
AgreementsLease agreementWritten contract that outlines the
responsibilities of the tenant and landlordNo-lease agreement-
month to month agreementNot in written formNot advisedHigh risk
LeaseWritten agreement- brief agreement that is not as formal
and easier to comprehend than a leaseThe tenant rents the property
from month to monthOral agreement- verbalized agreement by the
renter and the landlordNot advised
Whats in a LeaseName on the rental leaseNumber of people on the
propertyLengthTime at the propertyRent amountPayment procedureLate
paymentsCan lead to eviction- tenant involuntarily moves out after
receiving written noticeSecurity deposit amountOne time fee paid up
front to occupy the space to cover the costs of repairs/damages
Components of a LeaseRepairsEvictionsLease expirationBroken
leaseAnimalsParkingMoving outLandlords access rights
InsuranceIt is recommended that renters purchase rental
insuranceCovers personal items, theft, fire, vandalism
